Mexico: Officials order halt to AT&T merger

Mexico officials are reportedly ordering AT&T not to continue its merger process with DirecTV until the companies gain approval by telco authorities.

According to reports, Mexico’s Federal Telecommunications Institute is requiring AT&T and DirecTV to obtain approval for the $48 billion deal by the Institute’s Unit for Economic Competition.

DirecTV holds a strong presence in Mexico through its partnership with Televisa Group, which holds a 58.7 percent share in Sky Mexico. AT&T holds a stake in Mexico’s top wireless operator America Movil, though has promised to divest that ownership.

The companies said they expect to close the merger in about a year. Outlets did not report whether the firms commented on Mexico’s order.

Full content: Telecompaper

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.